SME Times is powered by   
Search News
Just in:   • Tradeindia's 3 day- 'COVID-19 Essentials Expo India' to kick off on Aug 5  • Equity indices fall, RIL bucks trend to hit new high  • PC shipments worldwide grow 2.8% in Q2 as Lenovo, HP lead  • South Central Railway carries Andhra chillies to Bangladesh  • Mukesh Ambani world's 7th richest, overtakes Warren Buffet 
Last updated: 04 Jun, 2020  

Employee.Thmb.jpg US private sector cut 2.7mn jobs in May

Employee.9.US.jpg
   Top Stories
» Tradeindia's 3 day- 'COVID-19 Essentials Expo India' to kick off on Aug 5
» Industrial output picks up in May
» 'RBI should ensure that banks lend to NBFCs'
» Forex reserves rise by $6 bn to $513 bn
» UP govt approves new start-up policy
IANS | 04 Jun, 2020
Private sector employment in the US decreased by 2.7 million jobs from April to May, according to a new report which raised hope that the worst could be over for the labour market as job losses were far fewer than expected.

While large businesses shed more than 1.6 million jobs in May, medium businesses cut 722,000 jobs, and small businesses reduced 435,000 jobs, said the ADP National Employment Report on Wednesday.

The total number in May was way below the 9 million job cuts forecast by economists at Refinitiv, FOXBusiness reported.

The 2.7 million decrease in private sector jobs in May followed the revised 19.6 million decrease in April, said the ADP report based on payroll data.

"The impact of the Covid-19 crisis continues to weigh on businesses of all sizes," Ahu Yildirmaz, co-head of the ADP Research Institute, said in a statement.

"While the labor market is still reeling from the effects of the pandemic, job loss likely peaked in April, as many states have begun a phased reopening of businesses."

The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

Due to the impacts of Covid-19, over 40 million Americans have filed for first-time jobless benefits since mid-March.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 11 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Pain points for MSMEs(3)
» UP govt to change lives of migrants: MSME Principal Secy(2)
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter